At the council formulations and to serve in the Obama Administration as assistant to National Security council. He also served during the Clinton Administration visiting scholar including harvard and columbia and the International Institute for strategic studies in london and numerous articles on National Strategic affairs and the author of nine previous books. Including how enemies become friends. Walter russell mead at the Hudson Institute the global economist at the wall street journal professor of Foreign Affairs with the council of Foreign Relations and offers numerous books and widely recognized special providence and how it changed the world. I hope we have the chance for work entitled the United States is real and the fate of jewish people. And that to shield itself is the subject of the discussion tonight. Please welcome Walter Russell mead. Thank you for that introduction it is terrific to be here with charles i think ive known so many years now. Quite a while. Can certainly
Disaster. Monetary policy works through emulating aggregate demand and that is important now. Ultimately, there is a job to replace lost income. Our congress stepped in and there has not been a faster or stronger response from congress to an economic emergency since the great depression. The cares act and other laws have been passed to more than offset lost income in the aggregate. There will be people for whom that is not true. You see high levels of savings on the Balance Sheets of households. Not experienced the downward cases we were worried about of mass insolvencies of businesses so far. So far, so good, i would say. There are no full recoveries without confidence. Do, which ipart to think we have done. The path forward will be challenging for a number of reasons, and i am sure we will get into some of them. Congresso do more and might need to do more with fiscal policy. The particulars of that are up to congress and not up to us. It is likely more will need to be done in time. O
Disease expert says covid19 will not be a pandemic a lot longer. , dr. Ing at an event today Anthony Fauci pointed to rapid progress in vaccine development. He did say the coronavirus could remain endemic for a long time. Generally, a pandemic is defined as an infection that puts the global population at risk, while an endemic disease is one that spreads in some areas and not others. There is a power struggle inside Prime Minister Boris Johnsons office that threatens to destabilize the british government. His communication director quit last night, raising concerns about the future of johnsons most powerful and controversial advisor, dominic cummings. All of this comes at a time when the Prime Minister is dealing with a new lockdown and brexit talks. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Vonnie it is 1 00 p. M. In new york, 6 00 in london, and 2 00
Interview for global wall street. I believe david folkertslandau is scheduled with us, from deutsche bank. The sun has not risen on the east coast yet. When it does, we will start to see the trickling in of the final 5 of voting in some states, and in some there is still a very large gap involving tens of thousands and hundreds of thousands of votes. What am i focused on . I guess i have to be focused on nevada. I may be wrong on that, but that is the one state on focused on right now, francine. Francine what im focused on is the legal challenges. I think it is pretty much being dismissed by the markets, and a lot of legal experts are also saying there is not a path forward for the president to challenge the voting. My want to see how that pans out and if there is a bigger impact. Lets get to first word news with ritika gupta. Just oneoe biden is battleground state away from becoming the next president of the united states. Biden already won two key prizes in the midwest, the states of
Vaccine. I love what Greg Valliere published minutes ago, where he says this is a humanitarian crisis, and another word he uses in his terse note is acceleration. Not only acceleration of chases and deaths, but this is about the medical industry and the hospitalizations. Peter hotez scheduled to be with us later this morning. Jonathan in various places around the country, the Health Care System is being overwhelmed. The caseload has gone from about 77,000 at the start of this around 150,000. Silent, anduse is congress isnt looking at a fiscal package right now. They are looking at nominating judy shelton to the Federal Reserve. For this market, the policy focus isnt there. Tom what is interesting is the incongruence of the president and the care he got at walter reed, whereas from sea to shining sea, it is not happening. I cannot convey the strangeness of american media, election, election, election, and below the fold is here is the mass of the pandemic. Jonathan weve got a crisis. In